The pound is getting a boost from Donald Trump

Sterling rallied back above $1.23 in afternoon trade in London, a
gain of roughly 0.6% on the greenback. The move is a result of
dollar weakness, caused by signs that Republican US presidential
candidate Donald Trump could be closing the gap with his
Democratic rival Hillary Clinton. That has pushed investors away
from the dollar, in turn sending sterling upwards.

Connor Campbell, a market analyst at SpreadEx, said in an email
on Wednesday morning: "A fresh batch of pre-US election jitters
has swept the markets this morning, investors fretting over news
that Trump has taken the lead in a national poll."